From Nasdaq: 2024-11-22 15:00:00

Oilfield services provider, TechnipFMC plc (FTI) has seen a remarkable performance in 2024, with shares up nearly 50% this year, closing at $30.02. The company’s total backlog reached $14.7 million in Q3 2024, supporting revenue visibility and margin improvements. TechnipFMC also secured key contracts with Petrobras and bp, enhancing its market position.

TechnipFMC’s Subsea 2.0 platform and increased share repurchase authorization signal growth opportunities and commitment to shareholder value. With a VGM Score of B and positive analyst estimates, the stock has surged 374% in the last three years. Despite concerns of overvaluation, strong fundamentals suggest potential for further growth.

Considering TechnipFMC’s strong revenue visibility, backlog, and market position, buying shares may still be a prudent move. The company’s Zacks Rank #2 (Buy) and positive outlook support long-term growth prospects. Analysts project an increase in earnings estimates, indicating confidence in TechnipFMC’s future performance.



Read more at Nasdaq: TechnipFMC Stock Rallies to 52-Week High: Buy, Hold or Sell?